Ethereum-ETF was approved: experts expect the price to skyrocket to $4,500. Gaming Notcoin soared 300% in a week. Japanese crypto exchange was robbed of $300 million. Mastercard launches P2P transfers

Decision on spot ETFs will push Ethereum rate up, expert says 
 

Ethereum price may rise to $4500 even before the appearance of ETFs (spot exchange-traded funds) based on the crypto coin. Arthur Cheong, top manager of the investment company DeFiance Capital (Singapore), shared the corresponding forecast.
 

The U.S. regulator SEC approved applications for Ethereum-ETF on May 23. The exchange rate initially responded by rising to $3,900 but then declined to $3,600 and headed for correction. As of June 4, Ethereum is traded at $3,770. About 800,000 ETH ($3 billion) has been withdrawn from cryptocurrency exchanges since the approval of applications. The lower supply will also contribute to the growth of the coin’s exchange rate.
 

Ethereum-ETFs are not yet traded on the market. This will happen after the SEC signs registration applications from fund issuers. According to experts, the process could take weeks or even months.
 

The crypto community considers the positive decision on Ethereum-ETF as an “implicit recognition” by the regulator that the asset does not belong to securities. JPMorgan analysts attribute it to the U.S. presidential election and believe that new ETFs will appear on the market well before November. As for demand, it will not be as high as for Bitcoin funds, according to banking experts. The reasons are as follows:

1. ETFs based on the first cryptocurrency have become pioneers.
2. Halving took place in the Bitcoin network in April, while Ethereum has no such feature.
3. Fund issuers have rejected the option of staking.
    

According to experts at Standard Chartered (UK), 2025 may launch a new wave of spot crypto funds, resulting in the world seeing ETFs based on Solana and Ripple.

Hackers hacked Japanese exchange DMM Bitcoin and stole $300 million  
 

Japanese crypto exchange DMM Bitcoin suffered a massive cyber-attack. It was recognized as the seventh-largest theft of cryptocurrency and the largest loss since the FTX hack. Attackers robbed the crypto exchange of 4,502 BTC ($306 million). The incident occurred on May 31, as officially reported in DMM Group. 

DMM Bitcoin crypto exchange promised to compensate customers for the stolen assets, assuring that all their deposits will be restored. The platform currently imposes some restrictions. Specifically, users have been warned that transactions may take longer than usual. The scheme of the hack is not disclosed. 

Let’s recall that the FTX heist was recorded in November 2022, as a result of which $477 million was withdrawn. The founder of the platform Sam Bankman-Fried was found guilty of fraud and sentenced to 25 years in prison. Recently, it was reported that the lost funds can be returned to customers. The downside is that the compensation will be paid in dollars at the rate relevant at the time of the site’s bankruptcy.